Tag: BIDU

CFD Trading – Buy Baidu Inc. (BIDU.NAS) @ $159.00. Stop @ $148.10 and Target @ $179.10

Nicholas

Baidu Inc.  Stock Code BIDU.NAS

Outlook
Recently price broke above a recent high and triggered a V-shaped reversal, hinting of more price upsides ahead.  Conversion and Base lines had bullish crossover, hinting of a bullish price trend. Lagging Span is above price of 26 days ago and above the cloud, confirming the bullish trend. MACD is bullish with both its lines high above the zero line, hinting of a strong bullish trend. We think the uptrend is likely to continue towards the Ichimoku V-shaped price projection target of $170.10.

Strategy                  
$159.00              Buy
$179.10              Price Target
$148.10              Risk Management Stop
3 weeks              Trade Duration

CFD Trading Buy Baidu @ $119.00. Stop at $109.60 and Target at $135.40

Nicholas

Baidu Inc. Stock Code BIDU.NAS

Outlook
Price broke above the cloud on 4 June 2020 and reached a high of $135.44 on 9 July 2020. After reaching this high, a price correction bought price to a low of $114.75, which was also the Ichimoku cloud support zone, maintaining the bullish trend. For the past 4 days, price has been hovering just above the upper edge of the cloud support. Conversion line and Base line had a bearish crossover on 23 July. Lagging Span is below price of 26 days ago but is above the cloud at the moment. Both components are unable to confirm the bullish trend at the moment. MACD is bearish at the moment but we could be seeing a bullish crossover if can move higher. If price stays above the cloud, we are expecting a price push to test the previous high at $135.44 again.

Strategy                  
$119.00              Buy
$135.40              Price Target
$109.60              Risk Management Stop
3 weeks              Trade Duration